Financial Performance - Total revenue for the year ended June 30, 2024, was HKD 229,786,000, an increase of 10.8% from HKD 207,219,000 for the previous year[1] - The company reported a loss before tax of HKD 162,246,000 compared to a profit of HKD 21,101,000 in the previous year[2] - Loss attributable to shareholders for the year was HKD 131,964,000, a significant decline from a profit of HKD 18,282,000 in the prior year[2] - Basic loss per share was HKD 9.64, compared to earnings of HKD 1.34 per share in the previous year[3] - Gross profit decreased to HKD 132,430,000 from HKD 136,626,000, reflecting a decline in gross margin[2] - Other income increased to HKD 17,895,000 from HKD 11,938,000, indicating growth in non-operating revenue sources[2] - Total operating expenses rose significantly to HKD 204,639,000 from HKD 97,024,000, highlighting increased costs[2] - The company incurred financial expenses of HKD 70,633,000, up from HKD 26,474,000 in the previous year, indicating higher borrowing costs[2] - The company did not recommend a dividend for the year ended June 30, 2024, reflecting its financial challenges[1] Assets and Liabilities - As of June 30, 2024, total assets amounted to HKD 2,324,298,000, an increase of 22.5% from HKD 1,898,227,000 in the previous year[4] - Non-current assets include property, plant, and equipment valued at HKD 1,069,582,000, significantly up from HKD 141,409,000 year-over-year[4] - Current assets include inventories of HKD 4,716,000, a substantial increase from HKD 1,152,000 in the previous year[4] - Total liabilities increased to HKD 600,621,000 from HKD 470,092,000, reflecting a rise of 27.7%[5] - The company's equity as of June 30, 2024, was HKD 1,016,789,000, down from HKD 1,206,959,000, indicating a decrease of 15.7%[5] - The group’s total liabilities reached HKD 1,307,509,000, with HKD 721,653,000 attributed to the gaming operations segment and HKD 73,797,000 to hotel operations[20] Segment Performance - As of June 30, 2024, the total revenue from the hotel operations segment was HKD 59,832,000, while the gaming operations segment generated HKD 169,954,000, leading to a combined revenue of HKD 229,786,000[19] - The total loss before tax for the group was HKD 162,246,000, with segment losses of HKD 27,710,000 from hotel operations and HKD 59,136,000 from gaming operations[19] - The revenue from gaming operations was approximately HKD 170 million, an increase of about 27.3% from approximately HKD 133.5 million in the previous year, accounting for about 74.0% of total group revenue[68] - Revenue from hotel operations was approximately HKD 59.8 million, a decrease of about 18.8% from approximately HKD 73.7 million in the previous year, with room revenue accounting for about 70.5% of total hotel revenue[69] Strategic Initiatives - The company is focusing on strategic initiatives to improve performance and explore new market opportunities moving forward[1] - The company has made significant investments in new technologies and market expansion, focusing on the gaming and hospitality sectors in the Philippines and Macau[6] - The company plans to enhance its operational capabilities and expand its market presence through strategic partnerships and acquisitions[6] - The group plans to consider various financing methods to expand its business and maintain liquidity levels for further development of the integrated resort[73] Compliance and Standards - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[7] - The group has adopted the revised Hong Kong Accounting Standard No. 1, which replaces "significant accounting policies" with "significant accounting policy information" in financial statements[12] - The group does not expect the application of the revised standards to have a significant impact on its financial position and performance[12] - The consolidated financial statements for the year have been reviewed by the Audit Committee, confirming compliance with applicable accounting standards and listing rules[95] Tax and Legal Matters - The group’s subsidiary in the Philippines is involved in a tax dispute with the Bureau of Internal Revenue amounting to approximately PHP 5,009,650,000 (approximately HKD 670,691,000) for various assessment years[36] - The company has not made any provisions in the consolidated financial statements for the tax disputes as of June 30, 2024[38] - The group has received approval from the Court of Tax Appeals to cancel a tax seizure order, allowing for potential recovery of seized funds[61] Market Outlook - The group maintains a cautiously optimistic outlook on the prospects of the Philippine tourism and gaming industry despite potential challenges from geopolitical tensions[73] - The Philippine government is implementing regulatory reforms aimed at enhancing the country's position in Asia and globally, which is expected to benefit the gaming and tourism sectors[71] - The board believes that the influx of tourists will promote economic development in the Philippines and benefit the gaming and entertainment industry[71] Employee and Operational Costs - Total employee costs for the year 2024 amounted to HKD 87,474,000, significantly higher than HKD 33,829,000 in 2023, reflecting increased staffing and operational costs[33] - The total number of employees as of June 30, 2024, is 1,001, with employee costs amounting to approximately HKD 87.5 million, compared to HKD 33.8 million in the previous year[87]
国际娱乐(一万)(01009) - 2024 - 年度业绩